Property Summary: 102 Lakeshore Road, Waverley Heights, Winnipeg
Section 1: Key Characteristics & Appeal
This home at 102 Lakeshore Road presents a compelling opportunity in Winnipeg's Waverley Heights neighborhood. Its primary appeal lies in its relative value and positioning within a desirable location. With a living area of 1,062 sqft on a 5,563 sqft lot, the property is more compact than many on its own street, but aligns more closely with neighborhood and citywide averages. This creates a distinct dynamic: you're purchasing a home on a prestigious street (Lakeshore Road) at an assessed value ($395k) that is notably below the street's average, offering a potential entry point into the area.
The home, built in 1975, is typical for its street and city, suggesting a familiar layout and potential for updates that could add significant value. The lot size, while below the street average, is still generous by broader standards and offers ample outdoor space.
This property would suit value-conscious buyers looking to establish themselves in a well-regarded neighborhood. It's ideal for those who prioritize location over sheer square footage, and for buyers or investors who see potential in a property that may benefit from modernization. It represents a pragmatic choice for someone seeking a solid home in a good area without paying the premium for the largest properties on the block.
Section 2: Frequently Asked Questions
1. Is the living area too small for the street?
While the home has the smallest living area on Lakeshore Road, it is closer to the Waverley Heights neighborhood average. This indicates the street consists of larger homes, making this a more manageable and potentially efficient property on a prime road.
2. Why is the assessed value lower than the street average?
The assessed value of $395k is below the street average of $453.2k, which is likely influenced by the smaller living area and the age/condition of the home relative to others. This discrepancy is what creates the value proposition, offering Lakeshore Road access at a lower price point.
3. What does the "Top" percentage mean in the rankings?
A "Top X%" ranking shows how this property performs relative to comparable homes. For example, "Top 95%" for value on the street means its assessed value is higher than 95% of homes on Lakeshore Road—this is positive for value. Conversely, "Top 100%" for living area means it ranks at the very bottom (100% of homes outperform it), confirming it's the smallest.
4. Is the 1975 build date a concern?
The build date is average for the street and newer than the Winnipeg city average. Homes from this era are common and offer standard construction, but buyers should budget for potential updates to roofing, windows, or mechanical systems that are nearing the end of their typical lifespan.
5. How does the lot size impact the property's potential?
At 5,563 sqft, the lot is smaller than others on the street but is still a good size. It may offer lower maintenance than larger lots on the block while retaining room for gardens, play areas, or future additions, subject to local zoning regulations.